Buying Townhouse In Bangkok Thailand

[PeterSek]

Hi

I have dual nationality: Australian and Polish

My wife is Thai with Oz PR and our 2yo daughter has both Thai and Australian nationality

We currently live in Australia

We are in a now thinking about buying Townhouse in Bkk and later on hope to live in Thailand for few years while our daughter is young.

All finance to buy this townhouse will be financed from outside.

I understand that current owners own the property out right.

1. Townhouse will be purchased in my wife’s name and possibly daugher’s name

-Can foreigner (me) be co-owner on the title? Are there many alternatives, Any long term impact on possible future non-O visa for me.

-Can our 2year old daughter be co-owner?

2. What are the things/pitfalls to look for when signing a purchase contract?

Are there any sample contracts on the Web preferably in both Thai and English?

3. I am told we don’t need a lawyer, is this correct?

4. I am now just over 49.

We are planning to move to Thailand in 1-2 years thus I will be just > 50.

Will there be any impact on how we own townhouse in terms of getting my non O visa

Thanks

[Dragonman]

Hi

I have dual nationality: Australian and Polish

My wife is Thai with Oz PR and our 2yo daughter has both Thai and Australian nationality

We currently live in Australia

We are in a now thinking about buying Townhouse in Bkk and later on hope to live in Thailand for few years while our daughter is young.

All finance to buy this townhouse will be financed from outside.

I understand that current owners own the property out right.

1. Townhouse will be purchased in my wife’s name and possibly daugher’s name

-Can foreigner (me) be co-owner on the title? Are there many alternatives, Any long term impact on possible future non-O visa for me.

-Can our 2year old daughter be co-owner?

2. What are the things/pitfalls to look for when signing a purchase contract?

Are there any sample contracts on the Web preferably in both Thai and English?

3. I am told we don’t need a lawyer, is this correct?

4. I am now just over 49.

We are planning to move to Thailand in 1-2 years thus I will be just > 50.

Will there be any impact on how we own townhouse in terms of getting my non O visa

Thanks

<{POST_SNAPBACK}>

1.Foreigner cannot be co owner and you must sign away all your rights to the property. Disadvantages in putting daughters name on title ie you will need an injunction from a court to sell the property before she is 18. You and your wife get wills drawn up instead.

2. See3

3 Get a good lawyer to do the purchase, wills, and if you want a safeguard, get a 30 year lease on the property.

4. No impact on visa.

[Erwin1011]

Hi

I have dual nationality: Australian and Polish

My wife is Thai with Oz PR and our 2yo daughter has both Thai and Australian nationality

We currently live in Australia

We are in a now thinking about buying Townhouse in Bkk and later on hope to live in Thailand for few years while our daughter is young.

All finance to buy this townhouse will be financed from outside.

I understand that current owners own the property out right.

1. Townhouse will be purchased in my wife’s name and possibly daugher’s name

-Can foreigner (me) be co-owner on the title? Are there many alternatives, Any long term impact on possible future non-O visa for me.

-Can our 2year old daughter be co-owner?

2. What are the things/pitfalls to look for when signing a purchase contract?

Are there any sample contracts on the Web preferably in both Thai and English?

3. I am told we don’t need a lawyer, is this correct?

4. I am now just over 49.

We are planning to move to Thailand in 1-2 years thus I will be just > 50.

Will there be any impact on how we own townhouse in terms of getting my non O visa

Thanks

<{POST_SNAPBACK}>

1.Foreigner cannot be co owner and you must sign away all your rights to the property. Disadvantages in putting daughters name on title ie you will need an injunction from a court to sell the property before she is 18. You and your wife get wills drawn up instead.

2. See3

3 Get a good lawyer to do the purchase, wills, and if you want a safeguard, get a 30 year lease on the property.

4. No impact on visa.

<{POST_SNAPBACK}>

get an USUFRUCT clause build in on the title deed. gives you the right of use for as long as you live.

[griser]

get an USUFRUCT clause build in on the title deed. gives you the right of use for as long as you live.

USUFRUCT , yeah but whats the Thai legal terminology?

greg

[Dragonman]

get an USUFRUCT clause build in on the title deed. gives you the right of use for as long as you live.

USUFRUCT , yeah but whats the Thai legal terminology?

greg

<{POST_SNAPBACK}>

I believe in practice you will only get a 30 year timescale with the possibility of renewal, although I know some Agents say it will be for life. The truth is that lawyers have corrupted the usufruct ( thai, sidhi-kep-kin), or usufruit, which is stemmed in Roman and Napoleonic law. The idea behind the usufruct, especially its origins in Thailand, was so that areas could be tree planted, originally for fruit. Now it is an attempt to get around thai land laws. Who knows what some judge will say when someone attempts to nullify the usufruct. Caveat Emptor!

[Sumitr Man]

Caveat Emptor!

Carpe Diem

(sorry, couldn't resist)

[Dragonman]

Caveat Emptor!

Carpe Diem

(sorry, couldn't resist)

<{POST_SNAPBACK}>

TiT. Too true!